U.S. Treasury Secretary Scott Bisent and Commerce Secretary Howard Lutnick held "frank" talks on Friday with Japan's Minister for Economic Revitalization, Ryoushi Akazawa, as Washington continues its global push for "fair trade."

The U.S. Treasury Department stated in a release: "Continuing their candid and constructive discussions, Secretary Bisent emphasized to Minister Akazawa the importance of addressing both tariff and non-tariff measures (other trade restrictions), increasing investment, and working together on economic security and other shared priorities."

Bisent highlighted "the strength of U.S.-Japan bilateral relations," noting that working-level teams continue discussions on numerous economic issues. He thanked the Japanese minister for "ongoing cooperation with the United States on fair and reciprocal trade," referencing his recent meeting with Japanese Finance Minister Katsunobu Kato in Banff, Canada.

On April 2, U.S. President Donald Trump signed a "historic" executive order to impose "reciprocal" tariffs on most trading partners - a policy based on the principle of equivalent treatment. However, he clarified that tariffs wouldn't uniformly apply at identical levels, with each country being treated differently.

On the 9th of the same month, Trump announced a 90-day suspension of most tariffs.